Ripple’s native token XRP is attracting bullish sentiments as Bitcoin climbed above the $57,000 mark on Tuesday. The leading altcoin surged double digits in two weeks delivering profits of around 11%. The cryptocurrency is now among the top 3 altcoins to watch out for as it could sustainably scale up in the charts. Read here to know the top 3 coins to watch under $1 for good returns in the next few weeks.
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Now that XRP is hovering around the $0.58 price range, how high could it go if the positive momentum continues? In this article, we will highlight how high or low Ripple’s native token could reach in the indices next.
Ripple: XRP Might Experience a Strong Rally
Ripple’s XRP could spike 100% and double in price if the rally continues into the next leg. predicts cryptocurrency analyst CoinsKid. According to the price forecast, XRP could be heading towards the $1.31 mark, the analyst estimated. He explained that after hitting $1.31, the altcoin could begin to decline due to sell-offs and profit bookings.
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“Keep an eye on the weekly RSI for XRP. We did print a bullish div a few weeks ago, at that point we entered a long position, so far that sweet spot is holding well. I think if we see XRP take out the red line, we could see it surge to the $1.31 area before another macro correction,” he tweeted.
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Therefore, according to his estimates, Ripple’s cryptocurrency has an upward trajectory of 100% in the indices. An investment of $10,000 could turn into $20,000 if his forecasts turn out to be accurate.
However, the cryptocurrency market is highly volatile and cuts both ways delivering massive losses to investors. There is no guarantee that Ripple’s XRP token could hit the $1.31 area. It is advised to do thorough research before taking an entry position as the cryptocurrency market is currently volatile.